Why Is Dogecoin Failling Sharply Today – Benzinga
Dogecoin DOGE/USD dropped 5.3% lower at $0.13 over 24 hours leading up to Friday morning.
DOGE dropped sharply lower alongside other major coins as the global cryptocurrency market cap decreased 7.2% to $1.7 trillion at press time.
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Dogecoin and other major peers dropped sharply on Thursday along with other risk assets like stocks. Market intelligence platform Santiment said on Twitter that “Historically, when calls for #selling spikes, crowd [fear, uncertainty, and doubt or FUD] like this strengthens the case of a continued rise.”
DOGE co-creator Billy Markus took a potshot at Bitcoin investors on Thursday. He said that while inflation is “good” for Bitcoin, recessions aren’t.
“When people don’t have excess money, they don’t buy stupid shit like bitcoin. They buy food and shelter,” said Markus on Twitter.
amusingly, inflation is good for bitcoin, and recessions aren’t
when people don’t have excess money, they don’t buy stupid shit like bitcoin
they buy food and shelter
Gokhshtein Media founder and DOGE-bull David Gokhshtein said Thursday that rapper Ice Cube is now a “big fan” of Dogecoin. He said, “That’s dope.”
I see @icecube now is a big fan of $DOGE.
It was reported earlier that Dogecoin investor Bill Lee purchased all 25 fire-tier editions of the Aliens, a BIG 3 basketball team in the largest DOGE transaction in history. The BIG3 is a 3-on-3 league co-founded by Ice Cube.
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